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An overview of the key functions and responsibilities of omvic (ontario motor vehicle industry council), the regulatory body that administers and enforces the motor vehicle dealers act (mvda) in ontario. It covers topics such as omvic's role in inspecting dealers, investigating complaints, conducting disciplinary hearings, and prosecutions. The document also outlines the requirements for dealer and salesperson registration, the 'transactional fee program', dealer advertising regulations, and the various classes of dealers. Additionally, it delves into the record-keeping obligations of dealers, the disclosure requirements for vehicle history and condition, and the customer's rights and remedies, including the 'as is' clause and the 'rescission' remedy. This comprehensive information would be valuable for university students studying automotive retail, consumer protection, or regulatory compliance in the motor vehicle industry.
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What is the primary legislation governing Ontario's retail automotive sector? - ✔✔Moter Vehicle Dealers Act, 2002 Which body or agency enforces MVDA? - ✔✔OMVIC List Three Functions carried out by OMVIC - ✔✔
What information is OMVIC required to make available to the public? - ✔✔1) A dealer's business name, address and phone number
Should OMVIC issue a proposal to refuse (or revoke) registration , to whom can the applicant appeal? - ✔✔License Appeal Tribunal (LAT) List the four "classes" of dealers - ✔✔1) General Dealer
OMVIC can refuse, revoke or suspend registration to a dealer , salesperson or corporation if the financial responsibility or past conduct of an "interested person in respect of the applicant / registrant" gives reasonable grounds for it. Who might OMVIC consider an "interested person"? - ✔✔1) Has or may have a beneficial interest in the business
True or False: Before issuing a freeze order (freezing the dealers assets or trust funds), OMVIC must first notify the dealer? - ✔✔False On a purchase contract, what must be printed in 14 pt. bold font next to the buyer's signature? - ✔✔The mandatory "Sales Final" statement If a dealer does not have a specific new vehicle in stock but will locate the vehicle and bring it in, what must be disclosed to the purchaser regarding the milage? - ✔✔A maximum distance that will be shown on the odometer at the time of delivery or a statement (initialled by the buyer) that there is no maximum If a Safety Standards Certificate is issued for a vehicle, it means? - ✔✔The vehicle met certain basic standards of safety on the date of inspection What does the term "as is" mean? - ✔✔The vehicle is not represented as being in roadworthy condition, mechanically sound, or maintained at any guaranteed level of quality. The vehicle may not be fit for use as a means of transportation and may require substantial repairs at the buyer's expense. It may not be possible to register the vehicle to be driven in its current condition. What must an "as is" sale include in the contract? - ✔✔Must include a specific definition of "as is" in the contract True or False: A dealer selling a vehicle "as is" may also provide a Safety Standards Certificate for the vehicle? - ✔✔False Contracts must have advisory or educational statements designed to inform purchasers /lessees about their rights and responsibilities and to ensure they know about the existence of certain agencies or organizations. What are these organizations / agencies? - ✔✔1) OMVIC
If customers give dealers a deposit but do not sign a contract, what rights do they have? - ✔✔If there is no signed contract and a deposit or trade-in is given to the dealer, the purchaser can cancel the contract at any time and demand his or her deposit or trade-in back. List three "previous uses of a vehicle" dealers must disclose - ✔✔Taxi Limo Police Vehicle Emergency service vehicle Daily Rental (Unless subsequently owned by someone other than a dealer) List three types of incident damage that must be disclosed - ✔✔Collision (greater then $3000 in damage) Fire Flood Structural Damage or altercations True of False: Dealer A buys from a daily rental company, a car previously used in the rental fleet. Dealer A then sells the car (giving full disclosure of the car's history as a daily rental) to a consumer who buys it for personal use. A year later, the consumer trades that car in to Dealer B. Dealer B does a history search and sees the car was once a daily rental. Under Regulation 42 of the MVDA, when Dealer B sells this car to another customer they are not required to inform the customer of the cars previous use as a daily rental. - ✔✔True
Disclosure must be provided in a timely manner, in writing and be presented in a way that is: - ✔✔Clear, comprehensible and prominent Give two examples of steps dealers can take to ensure they know the history of vehicles they buy or accept in trade. - ✔✔1) Use a vehicle history report 2)Understand the strength and weaknesses of the various vehicle history reports
True or False: The remedy of rescission is available to a customer who is also a dealer. - ✔✔False